LONDON (Reuters) – Kier Group will sell its housebuilding and property businesses, cut about 1,200 jobs and suspend its dividend for at least two years in a radical overhaul designed to lower debt and stabilise the business.
FILE PHOTO: A construction worker wears a branded jacket at the site for the Crossrail station in Tottenham Court Road, London, Britain, November 16, 2016. REUTERS/Stefan Wermuth/File Photo
The British contractor said it would also shed its facilities management and environmental services units, leaving it focused on regional building, infrastructure, utilities and highways.
Shares in Kier, which has contracts for Londons Crossrail project, fell 13% to a new low of 114 pence after the strategic review was rushed out o…
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